collapse

Author Topic: How else to choose a broker?  (Read 23633 times)

Offline Ed Joshue

  • Jr. Member
  • **
  • Posts: 47
  • Carpe Diem.
Re: How else to choose a broker?
« Reply #30 on: May 14, 2018, 07:10:37 AM »
The choosing a broker is very much difficult task , because lots of trading brokers we have and most of them are found to be scams.  So choosing a broker should be in cool mind. Please dont choose a broker in an emotional state.

Yep, totally agree with you. I've spent about 3 months to find the best broker for trading. Bytheway, have you ever heard about Amarkets?

Offline Trunk

  • Full Member
  • ***
  • Posts: 237
Re: How else to choose a broker?
« Reply #31 on: May 14, 2018, 08:36:13 PM »
You have to try and by trials and errors you will find your best broker. Its the only working method I know, others are prone to bring some hurtful fails for you.

Offline lafouine56

  • Newbie
  • *
  • Posts: 4
Re: How else to choose a broker?
« Reply #32 on: June 02, 2018, 02:35:04 PM »
here are some features i take into account when choosing a forex broker:
Low Spreads
Darth Pool Liquidity
No Dealing Desk
Award Winning Broker
ASIC, FCA, Cysec Regulated
Segregated Client Funds
Fee-Free Funding Options
24 Hour Support


Offline Trunk

  • Full Member
  • ***
  • Posts: 237
Re: How else to choose a broker?
« Reply #33 on: June 18, 2018, 05:31:41 PM »
Its good to make comparisons of your performance in different brokers, see their strong sides and weaknesses. I don't keep all eggs in one basket and prefer to trade with several brokers like Hotforex and Tickmill. Removed IG markets from my list because of frequent slippage in my trades.

Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 875
Re: How else to choose a broker?
« Reply #34 on: September 04, 2018, 03:19:24 PM »
here are some features i take into account when choosing a forex broker:
Low Spreads
Darth Pool Liquidity
No Dealing Desk
Award Winning Broker
ASIC, FCA, Cysec Regulated
Segregated Client Funds
Fee-Free Funding Options
24 Hour Support

How can I understand that my broker abides to these rules? Do you have any advice on verification process?

Online diyforexskills

  • Verified Vendor
  • Hero Member
  • ***
  • Posts: 2076
Re: How else to choose a broker?
« Reply #35 on: October 14, 2019, 02:05:42 AM »
I thought that this is an example of a helpful broker and would be another criterion one might use in selecting a broker. I have a dormant account with them.
Emailed today:

"Dear Valued Client,

Given the fast approaching deadlines for Brexit, Vantage FX anticipate news releases surrounding Brexit to increase market volatility at any time.

We have conducted a review of our risk management policies and would like to advise that, at this time, we do not intend on making any changes ahead of the upcoming events.

We do, however, want you to be aware that we will take appropriate actions as required by market conditions to establish a greater level of control during periods of high market volatility and as such this could happen with little or no notice.

There are numerous impacts that these events could have on market conditions, including:

Spreads:
During this period there may be times where spreads are considerably wider than usual.

Liquidity:
As uncertainty grips the market, Liquidity Providers and Banks retreat. As a result of this, stops may incur greater slippage and stop out levels may be significantly above or below where you expect to be executed.

Volatility:
The market could be extremely volatile as it responds to news releases and updates.

Actions Vantage FX may take to mitigate these risks
As your broker, we look to protect clients and ensure you have a positive trading experience. Some measures we may take include but are not limited to the following:

Margin increases:
As you might expect, we may raise margin requirements for key instruments. This reduces the chance of negative equity for clients and aims to reduce exposure under volatile conditions. This could even come in the form of raising margins on hedged positions to protect from liquidity risks.

Moving instruments to close only:
Under some circumstances liquidity could be so poor and volatility could be so high we may deem it best to move some instruments to close only.

Vantage FX will endeavour to notify you ahead of any changes being made.

If you have any queries, feel free to contact us on the details below."
Information, rebates and products -
http://www.diyforexskills.com



Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 875
Re: How else to choose a broker?
« Reply #36 on: November 05, 2019, 08:14:06 AM »
Yes, got same emails from Tickmill and Hotforex, I think many brokers care about their @ss if they want to stay in the business.

Offline Tobei

  • Jr. Member
  • **
  • Posts: 7
Re: How else to choose a broker?
« Reply #37 on: December 15, 2019, 07:36:12 AM »
When choosing a broker, one must take into account the profitability of trading conditions and the quality of the services provided.

Offline Kalace

  • Jr. Member
  • **
  • Posts: 15
Re: How else to choose a broker?
« Reply #38 on: December 16, 2019, 12:31:46 PM »
Always invest a small amount of money in a new broker first. And only then, if everything goes well, gradually contribute more. So I did at amarkets and everything is successful at the moment

Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 875
Re: How else to choose a broker?
« Reply #39 on: December 17, 2019, 09:47:18 AM »
Always invest a small amount of money in a new broker first. And only then, if everything goes well, gradually contribute more. So I did at amarkets and everything is successful at the moment

Yeah, but scammers don't care about small sums, they have incentive to cheat when they see the opportunity. That's why small sums are not really indicative. So the only source of genuine information about a broker is failure of other traders.

Offline Cerim

  • Jr. Member
  • **
  • Posts: 11
Re: How else to choose a broker?
« Reply #40 on: December 17, 2019, 12:35:20 PM »
Indeed, the choice of a broker must be approached thoroughly, because the success of your future trading depends on this.

Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 875
Re: How else to choose a broker?
« Reply #41 on: December 26, 2019, 01:27:04 PM »
When choosing a broker, one must take into account the profitability of trading conditions and the quality of the services provided.

Do you have any tips how to deal with that? Broker conditions look fairly the same I can't get my head around them, just try to compare average costs? Is it representative enough measure of true broker costs?

Offline Sami Samith

  • Jr. Member
  • **
  • Posts: 24
Re: How else to choose a broker?
« Reply #42 on: January 07, 2020, 10:15:42 AM »
Choosing best forex broker for all newbies is not an easy task. Using any broker without knowing detail is just foolishness.
Here is the list of Forex trading brokers but all of them are not authentic.

PaxForex and Baazex ( Baazex.com) are one of the best as well as trusted brokerage firm.

Offline drunkfx

  • Sr. Member
  • ****
  • Posts: 875
Re: How else to choose a broker?
« Reply #43 on: January 07, 2020, 06:09:14 PM »
Why did you pick these two? I think there are better ones like IB, Hotforex or Tickmill which client base is bigger so they value their reputation more.

Offline Jacob

  • Jr. Member
  • **
  • Posts: 9
Re: How else to choose a broker?
« Reply #44 on: April 08, 2020, 12:11:46 PM »
I just go with a trader that has good reviews and rating, try them out and then if it works fine stick with it or else just move to another one.

 

browse forum

* Recent Posts

Re: Spread is king? by HFT Group
[Today at 08:18:13 AM]


Re: What is the minimum limit of investment? by drunkfx
[Today at 07:35:56 AM]


Re: Spread is king? by drunkfx
[Today at 07:34:01 AM]


Re: HotForex by drunkfx
[Today at 03:32:36 AM]


Re: What is the minimum limit of investment? by fxopen78
[Yesterday at 11:22:00 PM]


Re: forex cyborg by Humble Trader's Fx
[July 11, 2020, 07:54:02 PM]


Re: Stock Trader Pro (via mql5.com) by ivanvp
[July 10, 2020, 03:39:53 PM]


Re: EUR/USD by Eliza Abrams
[July 10, 2020, 01:55:36 PM]


Re: Who makes a living on Forex??? by fxopen78
[July 09, 2020, 11:44:39 PM]


Re: Who makes a living on Forex??? by Eliza Abrams
[July 09, 2020, 03:43:39 PM]